Hunter Group ASA

Share Issue/Capital Change • Mar 20, 2017

Badger Explorer ASA - Last day of subscription period for Subsequent Offering II

Badger Explorer ASA - Last day of subscription period for Subsequent Offering II

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART DIRECTLY OR

INDIRECTLY, IN AUSTRALIA, CANADA, JAPAN OR THE UNITED STATES

Reference is made to previous announcements published by Badger Explorer ASA

(the "Company") regarding the subsequent offering of 80,000,000 new shares each

with a nominal value of NOK 0.125, at a subscription price of NOK 0.50 per share

(the "Subsequent Offering II").

Please note that the subscription period ends today, 20th March 2017, at 16:30

CET.

As stated in the stock exchange notice released by the Company earlier today

(08:07 CET), the Company will as soon as possible publish a supplementary

prospectus as a consequence of the execution of the letter of intent for the

acquisition of Dwellop AS.

Important information:

The release is not for publication or distribution, in whole or in part directly

or indirectly, in or into Australia, Canada, Japan or the United States

(including its territories and possessions, any state of the United States and

the District of Columbia).

This release is an announcement issued pursuant to legal information

obligations, and is subject of the disclosure requirements pursuant to the

continuing obligations of the Oslo Stock Exchange. It is issued for information

purposes only, and does not constitute or form part of any offer or solicitation

to purchase or subscribe for securities, in the United States or in any other

jurisdiction. The securities mentioned herein have not been, and will not be,

registered under the United States Securities Act of 1933, as amended (the

"Securities Act"). The securities may not be offered or sold in the United

States except pursuant to an exemption from the registration requirements of the

Securities Act. The Company does not intend to register any portion of the

offering of the securities in the United States or to conduct a public offering

of the securities in the United States. Copies of this announcement are not

being made and may not be distributed or sent into Australia, Canada, Japan or

the United States. The issue, exercise, purchase or sale of subscription rights

and the subscription or purchase of shares in the Company are subject to

specific legal or regulatory restrictions in certain jurisdictions. Neither the

Company nor the Manager assumes any responsibility in the event there is a

violation by any person of such restrictions.

The distribution of this release may in certain jurisdictions be restricted by

law. Persons into whose possession this release comes should inform themselves

about and observe any such restrictions. Any failure to comply with these

restrictions may constitute a violation of the securities laws of any such

jurisdiction. The Manager is acting for the Company and no one else in

connection with the Private Placement and will not be responsible to anyone

other than the Company for providing the protections afforded to their

respective clients or for providing advice in relation to the Private Placement

and/or any other matter referred to in this release.

Forward-looking statements: This release and any materials distributed in

connection with this release may contain certain forward-looking statements. By

their nature, forward-looking statements involve risk and uncertainty because

they reflect the Company's current expectations and assumptions as to future

events and circumstances that may not prove accurate. A number of material

factors could cause actual results and developments to differ materially from

those expressed or implied by these forward-looking statements.

***

Stavanger, 20th March 2017

For further information, please contact:

Roald Valen, CEO, cell phone +47 938 31 301

Gunnar Dolven, CFO, cell phone +47 908 53 168

www.bxpl.com